QUESTION 3 (MARKS: 25) According to the growth accounting equation, gy = gA + agx + (1-a)gn wheregy, gx and gh are growth rates of GDP per capita, capital per worker, and human capital per worker, and a is the share of capital income in total GDP. The first four columns of the following table give values for gy: 9k , In and a By 8k gh Growth Growth TFP TFP attributable attributable growth share in to Physical to Human growth capital capital 5.2 4.0 2.0 0.3 5.2 4.0 3.0 0.3 5.2 4.0 2.0 0.4 Q.3.1 Fill in the fifth column of the table with the growth attributed to physical. {4.5 Marks} Q.3.2 Fill in the sixth column of the Table with human capital accumulation. {4.5 Marks} Q.3.3 Fill in the seventh column of the Table with TFP growth. {4.5 Marks} Q.3.4 Fill in the final column of the table by calculating the fraction of overall growth (g.) that is attributed to TFP by the growth accounting framework. {4.5 Marks} Q.3.5 Using your calculations above discuss the potential for inaccurate estimates of g and a to render misleading estimates of the importance of TFP growth. {7 Marks}